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Mexico August Inflation, Brazil Markets Closed

LATAM
  • Mexico August CPI highlights the LatAm docket on Thursday, alongside Chile trade balance data & nominal wages. Argentina Industrial output and construction data will cross later in the session. Brazil markets are closed due to Independence Day holiday today. US jobless claims will be the focus for global markets.
  • The USD Index remains in the medium-term uptrend drawn off the mid-July lows, with the index holding just below yesterday's multi-month high of 105.02. The JPY outperforms modestly, with markets clearly still heeding the verbal intervention from both Matsuno and Kanda earlier in the week.
  • Stocks have edged lower as China plans to expand a ban on the use of iPhones in sensitive departments to government-backed agencies and state companies, a sign of growing challenges for Apple Inc. in its biggest foreign market and global production base.
  • Eurozone 2Q GDP final numbers printed lower than the advance readings at 0.1% Q/q (vs 0.3%) and 0.5% Y/y (vs 0.6%). The speaker slate is packed, with ECB's Holzmann, Fed's Harker, Goolsbee, Williams, Bostic and Bowman making up the busy slate.

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